OPEN-SOURCE SCRIPT
DMI ADX TREND 2.0 (edit by GeertVD)
Updated
Edit of the popular script by TraderR0BERT
New features:
- horizontal colored areas, indication weak/medium/strong trend
- vertical bars, signaling trend/momentum changes
- DI+ vs DI- contraction/expansion histogram (to measure the DI volatility)
New features:
- horizontal colored areas, indication weak/medium/strong trend
- vertical bars, signaling trend/momentum changes
- DI+ vs DI- contraction/expansion histogram (to measure the DI volatility)
Release Notes
minor updateRelease Notes
I changed the detection of a momentum change: momentum change now corresponds to the high of the MDI, provided it is above the user-specified threshold.Release Notes
Added the option to overlay the VFI on the ADX graph.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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